Financial

In response to Covid-19 the Australian Government announced a number of economic measures to support both everyday Australian’s as well as businesses during this period.

Please note that if you have any concerns about your employment or your safety in your workplace as a result of Covid-19 please visit the Fair Work Ombudsman

 

JobKeeper Payment

This payment is to support businesses to keep people employed in their jobs even if there has been a disruption to the number of hours they work.   Employees who were stood down before the announcement of the JobKeeper Payment may still be eligible as long as they have re-engaged with their employer and were employed prior to March 1 2020.  Please note the first pay cycle is from the 30th March 2020

Some things to know about this Payment:

  • Businesses that meet the criteria should access $1500 a fortnight per eligible employee to assist them to keep paying them for up to 6 months
  • Employees should receive as a minimum $1500 per fortnight before tax. Employees should continue to receive their regular income if it is above the $1500. This payment will support businesses to continue paying some or all of your income.
  • If an employee usually earns less than $1500 per fortnight before tax, the employer must pay the full $1500 to the employee.
  • As an employee you should not need to do anything to receive this payment as it should come from your employer
  • If you have more than one employer, you can only claim from your primary employer
  • If you are not an Australian citizen you must notify your employer of your visa status so they can confirm your eligibility.

If you are receiving JobSeeker Payment but are now receiving JobKeeper Payment you must notify Centrelink in order to avoid a debt in the future.

For further information please see the attached fact sheets:
https://treasury.gov.au/sites/default/files/2020-04/Fact_sheet_Info_for_Employers_2.pdf

 

Job Seeker

If you are unemployed you may meet the criteria to be eligible for the JobSeeker Payment.  If you are already receiving this payment then you should qualify for the Coronavirus Supplement which is an additional $550 fortnightly payment on top your income support payment.   This will be available from the 27th April 2020 and should be added automatically to your payment. You can find out Job Seeker payments (as per June 2020) here

If you need to make a claim for the JobSeeker Payment, please know that changes have been made to make it easier for you to claim. Such changes include: increase in the income test, mutual obligations, information you need to provide to Centrelink.

If you need this payment then visit Services Australia website to register your intent to claim and to find out further information about what you may be eligible for.

 

Coronavirus Supplement & Economic Supplement

The coronavirus supplement and economic supplements are extra payments that you may be eligible to receive.  The Coronavirus supplement will be automatically paid, starting late April 2020 and run for up to 6 months.  This is an additional $550 fortnightly payment on top of your usual payment.

If you are in receipt of the Disability Support Pension or a Carers Allowance, then you may be eligible for 1 or both of the Economic Support Payments.   If you are eligible for these payments you should expect to receive $750 one off payment between 12 March 2020 and 13th April 2020.  The second payment will be provided between the 10 July 2020 and the 13th July 2020.

 

Early Access to Super

The Government is also allowing people impacted by Coronavirus to have early access to their super.  For those eligible, they can apply to access up to $10,000 of their savings until June 30 2020 and then a further $10,000 from July 1 until September 24 2020.  To be eligible you must meet the criteria:

  • Unemployed
  • You are eligible for an income support payment such as the JobSeeker payment, youth allowance for jobseekers, parenting payment (including the single and partnered payments), special benefit or farm household allowance

On/ or after January 1 2020 you were either:

  • Made redundant
  • Your hours of employment was reduced by at least 20 per cent
  • Sole trader whose business was suspended or has experienced a reduction in turnover of 20 per cent or more.

Applications for early release of super will be accepted through MyGov on the 20 April 2020.  If you do not have a MyGov account you can create one.

 

Business Support

If you are a business owner, the Victorian Government has announced an ‘economic survival package’ to help with the impact of Covid-19.  Some of these packages include:

  • Payroll Tax Refund
  • Liquor License fees waived
  • Land tax deferral
  • Business Support Fund
  • Grants for small businesses

To find out further information about these packages https://www.business.vic.gov.au/disputes-disasters-and-succession-planning/illness-and-business-management-plan/coronavirus-business-support  or have a read of the Economic Survival Package Fact Sheet (attach pdf)

 

Other Links

https://moneysmart.gov.au/covid-19-financial-assistance

https://www.ausbanking.org.au/campaigns/financial-hardship/

 

Other Helpful Information

Housing & Essentials
Health & Community Supports